Many pensioners fear overspending retirement savings

One in three pensioners are concerned about overspending their retirement savings, according to a recent study. This fear is leading some to spend less than they could afford. The study, conducted by Aviva, found that many retirees struggle to manage their pension funds, with some spending more in later retirement years. Aviva and Age UK are advocating for an "MOT" to help mid-retirees access financial support. This proposed "MOT" would offer guidance on estate planning, state benefits, and fraud protection. The goal is to help retirees navigate the complexities of managing their finances throughout retirement.